Twenty Economists Were Sampled and Asked to Predict If the National

question 18

Multiple Choice

Twenty economists were sampled and asked to predict if the national economy would improve during the next 12 months. Eleven of the economists predicted an increase,two economists predicted no change,and seven economists predicted a decrease in the economy. Conduct a hypothesis test at the 0.10 significance level to determine if the majority of economists predict an increase. The null hypothesis is ________.

• A)H₀ : π = 0.5
• B)H₀ : π ≠ 0.5
• C)H₀ : π ≤ 0.5
• D)H₀ : π ≥ 0.5

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Definitions:

Economic Security

The state of having stable income or other resources to support a standard of living now and in the foreseeable future, protecting individuals and families from poverty and financial uncertainties.

Good Reason

A justified or rational basis for a decision, action, or belief.

Marry

Forming a legally recognized union with a partner.

Personality

The combination of characteristics or qualities that form an individual's distinctive character.